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BARR - the only cryptocurrency that doesn't print money from nothing


runpaint
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Threads: 1, Posts: 2
#0

BARR - Burning Altcoins for Redemption and Reduction

The purpose of BARR is to consolidate multiple altcoins into one currency.

Just as burning one coin reduces its supply, we hope to burn entire altcoins and reduce the overall supply of altcoins.  If burning 1 Bitcoin makes all bitcoins more valuable, then burning entire altcoin supplies will make all remaining altcoins more valuable.

BARR is only issued via Multi-Proof-of-Burn - no BARR has ever been released without an equal value of altcoins being burned.

Burning acts as BARR's "mining" process, and the price of BARR sets the "difficulty".  

Our process allows each coin holder to decide whether to keep their coins or burn them for BARR.

We believe that there are too many altcoins, and that almost all of them will cease to exist without ever gaining much value.  But one or two holders can keep a coin alive indefinitely, clogging the markets, trying to save their investments.  Before a coin gets delisted from all exchanges, or before its network stops functioning, users have a chance to rescue their money with BARR.  There isn't enough liquidity in the altcoin markets to move large supplies of coins, so BARR offers another way to redeem the value of those coins people are already stuck with.

For more details, see http://barr.me

Please ask any questions here, there's a lot involved and a lot of questions people usually have.

 

Coins destroyed by BARR as of September 7, 2016:
 
FRAC – 333,978 coins burned out of 1,003,589 = 33% of FRAC coin supply
KEY – 285,067 coins burned out of 946,902 = 30% of KEY coin supply
XAI – 336,561 coins burned out of 690,460 = 48% of XAI coin supply
LYB – 378,591 coins burned out of 985,344 = 38% of LYB coin supply
ACP – 1,135,048 coins burned out of 2,793,664 = 40% of ACP coin supply
UIS – 17,025,663 coins burned out of 36,874,815 = 46% of UIS coin supply
BUN – 11,120,369,000 coins burned out of 88,975,662,768 = 12.5% of BUN coin supply (excluding charity funds)
BSC – 2,079,346 coins burned out of 5,544,449 = 37.5% of BSC coin supply
CHC- 2,029,696 coins burned out of 11,387,208= 17.8% of CHC coin supply
XAP – 67,882 coins burned out of 269,477 = 25% of XAP coin supply



Posted: 9/8/2016 2:12:51 AM Edited: 9/8/2016 2:25:35 AM